The digital currency thread

OP
Mauritio

Mauritio

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Lollipop2 said:
WoW! I just posted this yesterday and look what happened today ?

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
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I haven't dare to look at my portfolio in 2 weeks haha
 
L

Lollipop2

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Mauritio said:
I haven't dare to look at my portfolio in 2 weeks haha
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Yikes ? sending you good thoughts. Anyway crypto holdings should only be the part of the portfolio that you don’t mind if it all gets lost or tanks to zero. I fear for those that make it all of their portfolio.
 
PhilParma

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Every bubble will be crashing, but the Tether scam is what's going to crash crypto six feet underground, and it may never return. Crypto has never faced a real macroeconomic challenge before; it was invented in 2009, and markets have been propped up and fake since 2008, with no real corrections having been allowed to take place.

After the crash, insane easy money policies will be enacted. Metals (you know, actual coins) will reabsorb the market cap stolen from them by crypto over the past decade. Gold and silver will soar, which will break the paper metals markets thus ending its downward manipulation of prices, sending metal prices even higher. Private parties doing transactions in silver coins may become popular, although illegal. A "safer" government issued digital coin will become the only legal way to transact because it will give governments unprecedented control over the global populace, and enhancing control is essentially all governments care about.
 
Kvothe

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Just bought a decent chunk of LUNA for 0.01€. If it ever recovers to even a part of its' former strength, my finances will be taken care of for the rest of my life. That's the one, irresponsible bet I'll make this year.
 
OP
Mauritio

Mauritio

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Lollipop2 said:
Yikes ? sending you good thoughts. Anyway crypto holdings should only be the part of the portfolio that you don’t mind if it all gets lost or tanks to zero. I fear for those that make it all of their portfolio.
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Yes, for me it was like 25% at some point ,but I sold a good part a few months ago and now it's around 8%.
I'm afraid the stocks also don't look good .
 
Regina

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corbettreport.substack.com

CBDC: A Country-by-Country Guide

by James Corbett corbettreport.com May 15, 2022 Way back in 2017 I created a country-by-country guide to the biometric ID control grid that was coming into view even then. In that editorial I noted that "it doesn't take a Nostradamus to understand where this is all heading: From the cashless...
corbettreport.substack.com corbettreport.substack.com
 
-Luke-

-Luke-

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Nigeria must end cash shortage

norberthaering.de

Gegenwind für digitales Zentralbankgeld: Nigeria muss Bargeldverknappung beenden – Geld und mehr

norberthaering.de norberthaering.de

Translation with deepl (emphasis mine):
17. 03. 2023 | In Nigeria, the central bank was in the process of taking large parts of cash out of circulation in order to force people to pay more with the new digital central bank money eNaira. After court rulings and fierce protests, the central bank is now backing down for now. The case shows how much distrust of digital central bank money is indicated.

Nigeria is a favorite guinea pig of the Bill and Melinda Gates Foundation and the Better Thank Cash Alliance. Nigeria is the first country to implement and test on a large scale what the various foundations and initiatives from Silicon Valley and Washington come up with to get populations under total automated surveillance.

Since April 2022, for example, people in Nigeria have only been allowed to make mobile phone calls if their SIM card is linked to their National Identification Number. Via this number, all data of all Nigerians is supposed to enter a gigantic government database and can be analyzed automatically. The enrollment of all Nigerians with a biometric citizen number and associated database is being funded by the World Bank. The Nigerian Identity Commission is also issuing Mastercard biometric identity proofs (eID cards) with payment functions.

In connection with a change in the design of banknotes, the central bank deliberately imposed a massive shortage of cash in order to help digital payment and the hitherto virtually unused eNaira achieve a breakthrough, which the central bank introduced with the support of the International Monetary Fund - expressly also as a pilot project from which other countries can learn lessons.

The massive cash shortage meant great hardship, even existential hardship, for many millions of Nigerians without bank accounts or smartphones, and led to massive revenue losses for many businesses - especially as the poor digital payment infrastructure could not cope with the increased number of transactions.

On March 3, Nigeria's Supreme Court upheld a lawsuit filed by states. It held that they and their citizens had a "right to protect the governance, economic and social order of their states from massive disruption and hardship resulting from the hasty and not well thought out and organized implementation of the amendment. (...) The implementation of the Directive has denied all persons and the plaintiffs access to a substantial part of their bank assets, thus forcibly and unlawfully depriving them of their property rights."

Not only was trade massively disrupted - which is bad enough for the people - but Nigeria's largely private sector health care system was also disrupted. People could no longer pay for much-needed treatment and medicine, and health workers could no longer reach their places of work.

The Nigerian Bar Association criticized a policy "without regard to the obvious sufferings of the people as witnessed across the country," raising questions about the true motives behind the cash shortage:

"Nigerians died, property was destroyed and lost; there is hunger in many homes because people are unable to use their hard-earned money deposited in the banks because the policy is obviously too high-handed."

Actually, the old banknotes were supposed to be valid only until Feb. 10. The Court ruled that they must remain valid until the end of the year. Ten days later, the central bank complied and announced a temporary halt to "demonetization" until the end of the year. Things don't seem to be quite working out with the eNaira's intended breakthrough either. According to a Bloomberg report from February 21, the central bank is secretly looking for partners in the private sector for a technological reorientation of the eNaira. Apparently, the project is more stalled than admitted.

The significance for us
On several occasions, I have pointed to strong signals and indications that the proposed digital euro will be designed to displace cash, not complement it. In Nigeria, where the International Monetary Fund has its fingers in the pie and the central bank maintains the closest contacts with globalist institutions, this is being done quite openly. According to the central bank's list of benefits of the cash shortage, it will "help consolidate a cashless economy as it is complemented by increased issuance of eNaira."

What the Monetary Fund, Gates Foundation, Rockefeller Foundation and the like are trying out in Nigeria will find its way to us sooner rather than later. We may conclude from the rabid attempt to enforce the eNaira via cash shortage that a healthy distrust is indicated regarding the intentions of those who want to impose digital central bank money on us.

Source note: I owe the reference to this topic and the links to the sources used here to a detailed report by Nick Corbishley on Naked Capitalism.
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Seems like it's only a temporary win for Nigerian people. But a little more time is better than nothing.
 
C

Corumba

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Lol, some truly awful takes and shitcoin shilling going on in this thread.

Bitcoin only. Few.
 
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